Page:United States Statutes at Large Volume 114 Part 3.djvu/1015

PUBLIC LAW 106-469—NOV. 9, 2000 114 STAT. 2037 Resources of the Senate not later than 180 days after the enactment of this section. The report shall contain a review of prior studies conducted on the subjects described in subsection (a). TITLE III—MARGINAL WELL PURCHASES SEC. 301. PURCHASE OF OIL FROM MARGINAL WELLS. (a) PURCHASE OF OIL FROM MARGINAL WELLS. —Part B of title I of the Energy Pohcy and Conservation Act (42 U.S.C. 6232 et seq.) is amended by adding the following new section after section 168: "PURCHASE OF OIL FROM MARGINAL WELLS "SEC. 169. (a) IN GENERAL.— From amounts authorized under section 166, in any case in which the price of oil decreases to an amount less than $15.00 per barrel (an amount equal to the annual average well head price per barrel for all domestic crude oil), adjusted for inflation, the Secretary may purchase oil from a marginal well at $15.00 per barrel, adjusted for inflation. "(b) DEFINITION OF MARGINAL WELL. —The term 'marginal well' has the same meaning as the definition of 'stripper well property' in section 613A(c)(6)(E) of the Internal Revenue Code (26 U.S.C. 613A(c)(6)(E)).". (b) CONFORMING AMENDMENT.—The table of contents for the Energy Policy and Conservation Act is amended by inserting after the item relating to section 168 the following: "Sec. 169. Purchase of oil from marginal wells.". TITLE IV—FEDERAL ENERGY MANAGEMENT SEC 401. FEMP. Section 801 of the National Energy Conservation Policy Act (42 U.S.C. 8287(a)(2)(D)(iii), is amended by striking "$750,000 " and inserting "$10,000,000 ". TITLE V—ALASKA STATE JURISDICTION OVER SMALL HYDROELECTRIC PROJECTS Deadline. 42 USC 6247b. SEC. 501. ALASKA STATE JURISDICTION OVER SMALL HYDROELECTRIC PROJECTS. Part "I of the Federal Power Act (16 U.S.C. 792 et seq.) is amended by adding at the end the following: "SEC. 32. ALASKA STATE JURISDICTION OVER SMALL HYDROELECTRIC PROJECTS. "(a) DISCONTINUANCE OF REGULATION BY THE COMMISSION.— Notwithstanding sections 4(e) and 23(b), the Commission shall discontinue exercising licensing and regulatory authority under this 16 USC 823c.